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Here is your morning brief for Thursday, October 16th. I'm Kate Bollivant for the Wall Street Journal.

Oil prices are heading higher this morning, reversing a recent stretch of declines after President

Trump said Indian Prime Minister Narendra Modi told him he plans to pause purchases of Russian oil.

India's foreign ministry issued a carefully worded statement following Trump's announcement,

saying that India's energy purchases are focused on what is good for the Indian consumer.

It means India is unlikely to act in a way that would cast aside its relationship with Russia,

but is also eager to reach a trade deal with the US and stay on good terms with President Trump.

Federal officials have found no evidence of appliance makers cheating on tariffs,

despite Whirlpool's accusations last month,

that its overseas competitors were undervaluing

imported appliances in order to pay lower duties.

Some customs brokers said the plunging values were likely due to data entry errors, not

tariff dodging, which US customers and border protection agreed with after a review.

Some import data has been revised

since Whirlpool raised the issue. GE appliances, which last month said Whirlpool's

allegations were inaccurate, issued a fresh rebuke saying Whirlpool weaponised the data for competitive

advantage. And earnings are continuing to come in thick and fast. This morning,

Nesley shares soared 6% after the food giant said it plans to reduce its workforce by 16,000.

It's part of a wider cost-cutting drive as the Swiss company looks to offset the costs of Trump's

tariffs. Meanwhile, TSM has delivered another

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